It is estimated that the whole sports betting industry, including the black market, is valued at over $1 trillion. It is now gaining greater focus in several nations, and the sector is anticipated to keep expanding. Given that India is a nation that enjoys both sports and gambling, it is not surprising that the two together constitute a successful and well-liked local sector.
Over 90 billion rupees ($1.2 billion) was the projected value of the local betting industry in India. By the end of next year, analysts predict that the valuation of the Indian cricket betting industry might reach 143 billion rupees (about $2 billion) if the present trend continues.
With these figures, India seems to be a good location for the forthcoming betting industry. This is the reason why a lot of gaming businesses are beginning to enter the Indian gambling market.
Possibility for India to Have the Largest Gambling Market
India has a population of about 1.4 billion people, half of whom use the internet. Over 749 million individuals are anticipated to be online in the nation, with the majority (744 million) accessing the internet through portable devices.
Apart from the large market betting businesses may access via India, individuals are also beginning to use their mobile devices for other activities. More individuals are purchasing smartphones as they become more affordable and powerful. As a result, the number of mobile gamblers is expected to increase.
Mobile internet is advancing the nation as more individuals use their cellphones to access the internet. Mobile data was formerly pricey in this area, but prices are now falling. By the end of the year, the 5G network is also anticipated to be available, giving users additional mobile device functionality.
Indian Sports Betting Statistics
According to a report, 140 million of the 370 million consumers who will wager online during key events will do so routinely. Only 11.6% of internet gamblers in India are female, compared to 88.4% of males.
The new generation was the largest group in the online betting industry. According to the same research, 44.6% of online bettors in the nation are between 18 and 24. Online gamblers aged 25 to 34 make up 32.5% of the market.
Geographically, Maharashtra, Telangana, and Karnataka are the states where it is most common. Telangana accounts for 18.7% of the country’s online betting industry. Karnataka has 13.2% of the population, while Maharashtra has 9.6%.
Most sports wagers are placed on cricket in the state, where more than 30 internet bookmakers are active. Every time a significant cricket tournament, such as the current ICC Men’s World Cup or the Indian Premier League (IPL), occurs, bets tend to rise. Here https://parimatch.in/en/cricket you can get more information about betting on cricket.
Urban locations like Delhi, Mumbai, Bangalore, and Chennai are simply where online betting is most prevalent. Fewer internet betting operations are seen in the eastern and northern states, where the populace is more conservative.
Parimatch, 10CRIC are some of the most well-known betting websites in the nation. Because they would facilitate more straightforward transactions, several of these websites target players from India. Most of these websites support payments made using Indian rupees and the most practical payment methods available, including PhonePe, UPI, and NetBanking.
What Is The Future of Sports Betting in India?
Given the rise of this activity, the Indian government will ultimately look into regulating the betting business. Online gambling is still prohibited in the majority of countries today. Few states, like Telangana and Andhra Pradesh, have explicitly stated that internet gambling is not permitted inside their boundaries.
Similar practices have also been outlawed in Karnataka, yet statistics indicate that residents continue to gamble. Telangana and Karnataka have large online betting sectors. This demonstrates how many people continue to gamble illegally, which is dangerous. We hope the government protects Indian gamblers.